Tag: Investor’s Corner

Kootenay Silver Inc. reports that at its annual general meeting held on November 30, 2016, that Shareholders voted in favor of all items of business before the meeting, including the election of the following incumbent directors for the ensuing year: Kenneth E. Berry, James M. McDonald, Brian Groves, Joseph P. Giuffre, Nathaniel Jon Morda, Andrea Zaradic and Antonio Reda.

By mutual agreement with the prospective purchaser, the Corporation has put an end to the previously announced negotiations to sell all of its interests in its Mexican mining exploration assets to Minerales y Yacimientos Mexicanos Sacreamento S.A de CV. The Corporation will seek to maximize the value of these assets through other transactions or potential operating relationships or partnerships that it intends to develop prior to the completion of its RTO, as further described below.

“Achieving this milestone is a critical first step toward rewarding the long-term dedication and perseverance of all of our key stakeholders,” said Kiran Patankar, Geologix’s President and Chief Executive Officer. “During a challenging multi-year period for junior miners following the completion of a Pre-Feasibility Study on Tepal in 2013, our Board of Directors made a prudent decision to curtail spending and minimize shareholder dilution, while stepping in to provide the Company with interim funding to keep the Project in a clean and unencumbered condition until resource capital markets improved. When metals prices stabilized and reversed direction in 2016, the Company enhanced its management team, completed a modest private placement, and commenced an extensive review of Tepal. We look forward to resuming project development based on these promising results.”

Bradford Cooke, CEO of Endeavour, stated, “The dip in reserves and resources at our three operating mines was a result of our reduced capital and exploration spending last year. Now that metal prices are recovering, we have resumed our investments to find and develop new reserves and resources. Our exploration efforts at the development projects last year were successful in identifying new mineralization, so we anticipate Terronera and El Compas should add to our total resources to be released in March.”

Oceanus Resources Corporation (OCN.V) and (OCNSF) is pleased to announce that its common shares recently commenced trading on the OTCQB, a US interdealer quotation system, under the symbol OCNSF. Real-Time Quote Display Service for OCNSF is available at: http://www.otcmarkets.com/stock/OCNSF/quote. The Company’s common shares will also continue to trade on the TSX Venture Exchange under its trading symbol OCN.

“At the Bolivar Mine in Mexico, the Company saw a significant increase in throughput but was hindered by lower grades which led to a minor reduction in copper equivalent production when compared to Q4 2015. The Company will focus on continuing to increase production volume while improving the value per tonne of ore mined at Bolivar in 2017. At Cusi, poor weather and significant rainfall caused flooding in ramps which led to stope unavailability resulting in lower production, however we will continue to seek improvement at Cusi with better grade control and selective mining practices,” Mark Brennan, President and CEO of Sierra Metals.

“While Primero faced a number of significant challenges in 2016, I believe the changes we have already made, and will continue to make, will result in a considerable improvement in our 2017 results,” stated Ernest Mast, President and Chief Executive Officer. “We have recently strengthened our management team with the addition of an experienced C.O.O. and C.F.O., and expect to see marked improvement in the near-term as we work to reduce costs, increase production and simplify the way we mine. These key steps will lay the foundations of Primero’s return to sustainable profitability.”

Timmins Gold Corp. is pleased to announce that Greg McCunn will succeed Mark Backens as the Company’s new Chief Executive Officer effective February 1, 2017. In addition to the role of CEO, Mr. McCunn will also serve as a director on the Company’s board of directors.

Mammoth Resources Corp. is pleased to announce that the TSX Venture Exchange has approved a consolidation of its common shares on a 4 for 1 basis. The consolidation was approved by the Company’s shareholders at the annual general and special meeting held on December 14, 2016 and as previously announced in a press release dated December 19, 2016. The consolidation will take effect on Wednesday, January 18, 2017. Assuming no other change in the issued capital of the Company, it is expected that upon completion of this consolidation, Mammoth will have approximately 16,133,792 Common Shares issued and outstanding, reduced from 64,535,168 Common Shares which are currently issued and outstanding.

“Listing on the NYSE MKT is an important milestone for Americas Silver which will create greater exposure among institutional and retail investors in the U.S. and internationally at this important time of growth for the Company,” said Darren Blasutti, President and CEO.